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Constituency News

  

Special News

 

Election of IBRD/IDA/IFC and MIGA Executive Director

Mr. Jorg Frieden of Switzerland has been elected to serve the remainder of the term of Mr. Michel Mordasini, that is, until October 31, 2012, as Executive Director of the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation and the Multilateral Investment Guarantee Agency, with effect from March 15, 2011

 

News

AZERBAIJAN

August 9, 2011 - Azerbaijan has produced over 1.6 bln kVt/hour during July, 2011, up 23% from June

KAZAKHSTAN

August 9, 2011 - Travelport is setting up new business operations for the first time in Kazakhstan, led by one of Travelport’s longstanding distributor partners.
Global Travel Distribution Kazakhstan LLP, an enterprise of Singapore-based Global Travel Services Pte Limited and an existing Travelport distributor in four countries, will provide local travel agents with access to the Galileo and Worldspan GDS platforms and technology as well as offer customer support.

August 9, 2011 - Oil and gas company Tethys Petroleum has opened up its Doris oil production facilities in Kazakhstan.

According to the company, oil is currently being trucked from this location at a rate of about 1,500 barrels of oil per day (bopd), which will increase to 2,000-2,500bopd with the new production facilities.

KYRGYZ REPUBLIC

August 2, 2011 - The World Bank ’s Board of Directors today approved a US$ 30 million equivalent amount for the Economic Recovery Support Operation (ERSO) for the Kyrgyz Republic.

This operation is designed to support Government’s reforms for improving governance and strengthening accountability mechanisms, and for post-conflict recovery, transition to medium term growth and poverty reduction. The ERSO program includes a highly concessional IDA credit of US$ 16.5 million and an IDA grant of US$ 13.5 million

August 5, 2011 - The World Bank (WB) plans to approve funding for four new projects in Azerbaijan in 2012 fiscal year, the head of the WB office in the country Joseph Owen said to a news conference on August 5.

POLAND

 Supporting Poland’s Transition toward a Low-Emissions Future 

 

 

Instead of just offering prescriptions based on
economic modeling, the Transition to a
Low-Emissions Economy in Poland
report offers the
client tools and models they can take on and use
in-house.


June 20, 2011 -
How can the Bank work with a client on a global issue like climate change? What are the challenges of offering models based on still-evolving research? How can a Bank team engage effectively in policy dialogue with an EU member state as it prepares to implement EU regulations?

These were the questions facing the ECA PREM team when it first considered work on Transition to a Low-Emissions Economy in Poland in late 2008. Three months after a successful launch of the report, the team shares insights on how highly complex cutting-edge technical analysis can generate significant buzz and be seen by the government as useful input for policy discussions.

In late 2008, the European Union adopted a climate change package to lower greenhouse gas emissions by 20 percent by 2020. Meeting those obligatory targets was, at the outset, thought to be impossible for Poland, a country which generates over 90 percent of its electricity from coal. With attention turned to the impact of the global financial crisis, it took some time for Poland to wake up to the reality that the country needed to plan for a low-carbon future.

For more information on the Transition to a Low-Emissions Economy in Poland, please visit
www.worldbank.org/pl/lowemissionseconomy.

July 1, 2011 - Poland takes over the European Union Presidency from Hungary as Europe struggles with the debt crisis. Poland has achieved strong economic growth since becoming an EU member. The once communist country also has managed to avoid recession in the wake of the 2008 global financial crisis. Warsaw will preside over difficult negotiations on the bloc's new economic governance rules and its next long-term budget.

But as a nation that does not use the common European currency, Poland will not influence decisions on how to stabilize the euro.

SWITZERLAND

August 9, 2011 - The Swiss franc appreciated to record levels against the euro and dollar as investors spooked by concern global growth is stalling sought the safest assets.

The franc strengthened against all of 16 major peers tracked by Bloomberg as Switzerland’s government said yesterday it agrees with the central bank’s contention that the franc is “massively overvalued.” European equities were little changed after earlier dropping as much as 5.1 percent, while Swiss stocks slid for a 12th day, extending the longest losing streak since at least 1988

TURKMENISTAN

September 3-4, 2011 - Joint IMF and World Bank Constituency Meeting will be held in Turkmenbashi.

Turkmenistan will host this meeting at a time when the country celebrates its 20th Year of Independence.

The Constituency Meeting will again feature a seminar on a topic of common interest. The theme of this year’s seminar will be “Macroeconomic Stability and Banking Sector Development”. The seminar aims to provide valuable insights and foster a candid policy dialogue among Governors and representatives of the constituency countries.

High level staff from IMF and World Bank will provide their assessment on these important and complex topics.

  

 

Upcoming Events 

September 24 & 25, 2011
World Bank Group/International Monetary Fund: 2011 ANNUAL MEETINGS 

 

 

 

WBG Procurement

 

With USD 650 million in procurement by WBG of goods and services from private companies in our constituency countries, FY10 ended with a record and exceptional turnout, up from USD 204 million in FY09 and significantly above the average recorded between FY00-FY09 of USD 173 million. Compared to FY09 the result is mainly due to exceptional increases in Azerbaijan and Switzerland, both ranked in FY10 among the top ten suppliers with a 3.3% and 3.2% share respectively.  Most other Members were roughly stable – less than 10% variation in the case of Kyrgyz republic, Tajikistan and Serbia – or had some up and down variation. These figures are of course, subject to quite some degree of volatility due to procurement opportunities emanating from projects and due to the competitive bidding process.

 

1proc

 

 

WBG Commitments

 

In FY10, the volume of WBG financial commitments in terms of lending, equity and guarantees to our constituency has reached USD 2.62 billion, down from last year’s historic level of over USD 3 billion. However, the FY10 figure remains significantly above the pre-crisis FY09 volume of USD 1.5 billion. With the approval in FY10 of the third DPL Poland remains the main client, however, with a lower volume than in FY09, which recorded USD 2.6 billion. Serbia (+ USD 469 million) and Uzbekistan (+ USD 113.3 million) have significantly ramped up their WBG commitments when compared to FY09, while Azerbaijan, the Kyrgyz Republic and Tajikistan remained in the range of last year’s result, albeit all of them with some increases.

 

FY10 Annual WBG Commitments in EDS24 (USD Million)

 

 

IBRD/IDA Lending

IFC

MIGA

Country

 Amount

of which
IDA

 Loan

Equity

Guarantee

Total

Guarantee

Total

Azerbaijan

241.6

29%

20

-

9

29

-

270.6

Kyrgyz Republic

37

100%

10

-

-

10

6

53

Poland

1331.3

0%

15

-

-

15

-

1346.3

Serbia

588

0%

105

-

-

105

54

747

Tajikistan

52.4

100%

-

-

1

1

-

53.4

Turkmenistan

0

-

-

-

-

0

-

0

Uzbekistan

145.5

100%

2

3

-

5

-

150.5

 Total:

2395.8

 

152

3

10

165

60

2620.8

 

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